Israel-Hamas Conflict Sends Shockwaves Through Middle East and Global Economy

The ongoing conflict between Israel and Hamas has severely impacted Lebanon's struggling economy, with businesses experiencing significant drops in customers and the restaurant sector seeing up to an 80% decrease in business. Tourism, which accounts for 20% of Lebanon's GDP, has been hit hard as several countries have advised their citizens not to visit Lebanon and airlines have cancelled flights. Lebanon's food security is also at risk, as the country is heavily dependent on imports and its reserves of food, fuel, and medicine are only enough for two to three months. The financial crisis and lack of attention to necessary reforms have further exacerbated Lebanon's economic challenges.